Radnor Capital Management Acquires New Position in Otis Worldwide

Radnor Capital Management LLC has acquired a new position in Otis Worldwide Co. in the second quarter, according to a recent filing with the Securities and Exchange Commission. The fund purchased 2,259 shares of Otis Worldwide’s stock, valued at approximately $201,000.

Several other hedge funds have also made changes to their positions in Otis Worldwide. Northwest Bancshares Inc. raised its holdings in the company by 3.5% during the fourth quarter, TFC Financial Management Inc. increased its holdings by 34.4% during the first quarter, Optas LLC raised its holdings by 1.9%, FineMark National Bank & Trust raised its holdings by 1.7%, and Belpointe Asset Management LLC raised its holdings by 5.2% during the first quarter. Currently, 85.48% of the stock is owned by institutional investors.

In other news, insiders at Otis Worldwide have been buying and selling company stock. Insider Fernandez Bernardo Calleja sold 3,992 shares of the company’s stock, while CAO Michael Patrick Ryan sold 6,372 shares.

Otis Worldwide’s stock traded down to $81.45 on Friday, with 841,076 shares of the stock being traded. The company has a market capitalization of $33.54 billion and a price-to-earnings ratio of 25.68.

Analysts are forecasting that Otis Worldwide will continue to see growth, with a projected EPS of 3.47 for the current fiscal year.

Otis Worldwide Corporation is a global company that manufactures, installs, and services elevators and escalators. They operate in two segments, New Equipment and Service, and provide solutions for residential and commercial buildings, as well as infrastructure projects.


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